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TEMPE, Ariz. - Dutch Bros Inc. (NYSE:BROS) shares surged 13% after the fast-growing beverage chain reported second-quarter results that exceeded Wall Street expectations and raised its full-year outlook, driven primarily by strong transaction growth.
The company posted adjusted earnings of $0.26 per share for the second quarter, significantly beating analyst estimates of $0.18. Revenue jumped 28% YoY to $415.8 million, surpassing the consensus forecast of $403.14 million. System-wide same shop sales increased 6.1%, with transactions growing 3.7% compared to the same period last year. Company-operated locations performed even better with same shop sales up 7.8% and transactions increasing 5.9%.
"Our business continues to fire on all cylinders, guided by a focused strategy, strong execution, and our amazing people," said Christine Barone, Chief Executive Officer and President of Dutch Bros. "Our transaction driving initiatives are working in unison, with same shop sales growth primarily driven by transaction growth of 3.7%, marking yet another consecutive quarter of transaction growth."
The company opened 31 new shops during the quarter, 30 of which were company-operated, across 13 states. Dutch Bros now operates 1,043 locations across 19 states as of June 30.
Based on its strong performance, Dutch Bros raised its full-year 2025 guidance, now projecting revenue between $1.59 billion and $1.60 billion, above the consensus estimate of $1.585 billion. The company also increased its same shop sales growth forecast to approximately 4.5% and adjusted EBITDA to between $285 million and $290 million.
Company-operated shops gross profit was $92.6 million with a gross margin of 24.3%, up 60 basis points YoY, while adjusted EBITDA grew 36.6% to $89 million compared to $65.2 million in the same period of 2024.
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